In a pattern that has become all-too familiar since late 2020, US sheet pricing has reached another record high, Kallanish reports.
Kallanish puts hot rolled coil at $1,800-1,820/short ton, with cold rolled at $2,000-2,050/st. All prices are ex-works, domestic mill.
Market players reacted with shock and awe at current pricing levels – and there is still more growth to come, many opine.
“We have heard lately that mills expect hot rolled coil to continue to increase, passing the $2,000/st figure through the summer,” says a Gulf Coast tubular buyer. “Ouch. Remember – the higher the climb, the bigger the fall.”
There’s little-to-no relief in sight from the traditionally lower mini-mill sector, as both integrated mills and minis are sticking to the $1,800/st price point, says a Midwest buyer.
Even on the West Coast – which is forced to contend with import pressure from Asia – prices are wildly elevated. A buyer there puts local prices at $1,820/st, “which is crazy, but true”.
Dan Hilliard USA